The city of Grace reported $12,000,000 of general capital assets and accumulated depreciation on these assets of $4,000,000 on its December 31, 2019 government-wide statement of net position. The city reported capital outlay expenditures of $1,200,000 in its governmental funds during its fiscal year ending December 31, 2020. Also, depreciation associated with general capital assets for the fiscal year ending December 31, 2020 was $800,000. Prepare the three journal entries needed for the December 31, 2020 worksheet that converts the governmental fund capital asset information to information needed for the government-wide financial statements.
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Interpreting the income tax expense footnote the income tax footnote to the financial statements of fedex corporation follows. the components of the provision for income taxes for the years ended may 31 were as follows: ($ millions) 2010 2009 2008 current provision domestic federal $ 36 $ (35) $ 514 state and local 54 18 74 foreign 207 214 242 297 197 830 deferred provisions (benefit) domestic federal 408 327 31 state and local 15 48 (2) foreign (10) 7 32 413 382 61 provision for income taxes $ 710 $ 579 $ 891 (a)what is the amount of income tax expense reported in fedex's 2010, 2009, and 2008 income statements?
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The gorman group is a financial planning services firm owned and operated by nicole gorman. as of october 31, 2016, the end of the fiscal year, the accountant for the gorman group prepared an end-of-period spreadsheet, part of which follows:
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The city of Grace reported $12,000,000 of general capital assets and accumulated depreciation on the...
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